Cuomo signs Upstate NY Gaming Economic Development Act
Destination gaming resorts are authorized in three regions of the state: the Hudson Valley–Catskill area, the Capital District-Saratoga area, and the Central-Southern Tier. One region may have up to two casinos if determined by the state siting board. No destination gaming resorts can be authorized in Westchester, Rockland, Putnam, New York City, or Long Island. There will be a 7-year exclusivity period during which no further destination gaming resorts will be licensed by the State.
Regulation and Selection: The State Gaming Commission will oversee regulation of destination gaming resorts. The Gaming Commission will appoint a siting board of individuals with expertise in finance and development, which will determine the required minimum amount of capital expenditures and license fee required of a destination gaming resort applicant in each region and make the selections.
The tax rate on slot machines will be equal to the tax rate of existing video lottery gaming facilities within each region which currently ranges from 37 percent to 45 percent depending on the region.
The tax rate on table games will be 10 percent. Existing payments to the racing industry for purses and breeding will be maintained. There will be no destination gaming resorts in regions with tribal exclusivity agreements.
The board will be required to evaluate destination gaming resort applications based on specific criteria: 70 percent of the decision on siting a destination gaming resort will be based on economic activity and business development factors; 20 percent on local impact and siting factors; and 10 percent on workforce factors. Local support for the Resort application must be demonstrated as a threshold application requirement.